The United States faces a multi-faceted competitiveness problem, writes Harvard Business School dean Nitin Nohria in the Harvard Business Review (HBR), and while one-off reforms in taxation, education, and other areas are helpful, what is needed is a "systemic, well-choreographed approach to creating positive change." The new March issue of HBR draws on thought, leaders from Harvard and other organizations, and offers a detailed appraisal of U.S. competitiveness.

Debt and Deficits

Paying for the Payroll Tax Cut

Republicans and Democrats have tentatively agreed to use proceeds from the privatization of public airwaves to help pay for the extension of the payroll tax cut (NYT), set to be voted on today. The public auction is expected to generate $25 billion and will be used to pay for the $30 billion cost of extending unemployment insurance.

International Trade and Investment

Obama to Boost Export-Import Bank Funding

U.S. President Barack Obama is set to announce that the Export-Import Bank (WSJ) will match funding by other countries like China in order to guarantee U.S. exporters stay competitive in the international market. The announcement comes just days after Obama met with Chinese Vice President Xi Jinping to discuss bilateral relations and international business practices.

Corporate Regulation and Taxation

Regulating Derivatives

The quantity of derivates a firm can sell before it falls under strict new U.S. trading guidelines is set to increase twenty-fold, according to the Financial Times. The proposed change comes just ahead of a vote at the Commodity Futures Trading Commission on how to classify participants in swaps, the previously unregulated derivatives that helped fuel the financial crisis.